Bitcoin ETF

Bitcoin

Spot

<p>Bitcoin ETF holders surged by 30% in Q2 despite a sharp decline in Bitcoin’s price. This rise comes on the backdrop of turbulent cryptocurrency waters in Q2.&nbsp; Bitcoin price plummeted from a high of $72,000 to a low of $56,000. Despite this significant 12% drop, institutional investors have displayed resilience.</p>
<p>This trend highlights a shift in institutional strategy towards digital assets, underscoring a broader adoption pattern that defies short-term market volatility.</p>
<p>Taking to his X account (formerly Twitter), Bitwise’s Chief Investment Officer, Matt Hougan,&nbsp;<a href="https://x.com/Matt_Hougan/status/1823862825577844953" rel="noopener noreferrer nofollow">highlighted</a>&nbsp;the number of holders for U.S. spot Bitcoin ETFs increased from 1,479 in Q1 to 1,924 in Q2.</p>
<p>This 30% rise shows institutional investors’ appetite for Bitcoin ETFs has not only remained steadfast but has grown.&nbsp; Hougan revealed that 66% of investors who acquired Bitcoin ETFs in Q1 either maintained or increased their holdings in Q2. Specifically, 44% of these investors boosted their positions, while 22% held steady.</p>
<h2 class="wp-block-heading" id="h-top-spot-bitcoin-etf-hodlers-in-focus"><strong>Top Spot Bitcoin ETF Hodlers in Focus</strong></h2>
<p>Among the major players in the Bitcoin ETF space, Goldman Sachs and Morgan Stanley stand out.</p>
<p>Recent filings show that Goldman Sachs holds&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/14/goldman-sachs-holds-238m-in-ishares-bitcoin-etfs/" rel="noopener noreferrer nofollow">approximately $238.6 million</a>&nbsp;in BlackRock’s iShares Bitcoin Trust (IBIT), making it one of the top holders. Morgan Stanley follows closely with a $187 million stake in the same fund.</p>
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   <p lang="en" dir="ltr">In a 13F filing today, Morgan Stanley reported owning 5,500,626 shares of iShares Bitcoin Trust as of June 30 (valued at $187,791,372 as of that date).<br><br>The filing notes under "Investment Discretion" that all 5.5 million shares are allocated to Morgan Stanley Investment… <a href="https://t.co/SKL9AF2R3V" rel="noopener noreferrer nofollow">https://t.co/SKL9AF2R3V</a></p>— MacroScope (@MacroScope17) <a href="https://twitter.com/MacroScope17/status/1823800076004712809?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
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<p>This growing acceptance could lead to more market activity and increased liquidity in the crypto space, despite Bitcoin’s 12% price drop during Q2 2024.</p>
<p>Morgan Stanley’s recent&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/03/morgan-stanleys-new-policy-bitcoin-etfs-for-eligible-clients/" rel="noopener noreferrer nofollow">recommendations of Bitcoin ETFs</a>&nbsp;to select clients are expected to further drive this trend, potentially leading to increased adoption and higher assets under management (AUM) in the coming quarters.</p>
<p>The assets managed by Bitcoin ETFs have increased from $50 billion in Q1 to about $53.6 billion. This growth is mainly due to institutional investors, who made up 7% to 10% of the total AUM in the first quarter.</p>
<p>Glassnode’s&nbsp;<a href="https://x.com/glassnode/status/1823742466731721117" rel="noopener noreferrer nofollow">data</a>&nbsp;shows an increase in Bitcoin accumulation, similar to the trend seen in March that pushed Bitcoin to its previous all-time high of $73,000.</p>
<h2 class="wp-block-heading" id="h-hedge-funds-betting-on-spot-btc-etf"><strong>Hedge Funds Betting on Spot BTC ETF</strong></h2>
<p>According to a Bloomberg&nbsp;<a href="https://www.bnnbloomberg.ca/business/company-news/2024/08/15/more-hedge-funds-buy-bitcoin-etfs-as-institutional-demand-grows/" rel="noopener noreferrer nofollow">report,</a>&nbsp;interestingly, 701 new funds reported holdings in spot-Bitcoin ETFs by the end of Q2, bringing the total number of holders close to 1,950.</p>
<p>The spot-Bitcoin ETFs that launched in January have far exceeded expectations, drawing in a total of $17 billion in net inflows this year. BlackRock’s IBIT alone has grown into a $20 billion giant.</p>
<p>In July, spot-Ether ETFs also received approval and have attracted $1.9 billion in new investments. This amount does not account for the $2.3 billion in outflows from the Grayscale Ethereum Trust (ETHE), which transitioned to an ETF format last month, according to&nbsp;<a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">data</a>&nbsp;from Soso Value.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/16/q2-spot-bitcoin-etf-holdings-up-30-goldman-morgan-stanley-lead/" rel="noopener noreferrer nofollow">Q2 Spot Bitcoin ETF Holdings Up 30% Goldman, Morgan Stanley Lead</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Q2 Spot Bitcoin ETF Holdings Up 30% Goldman, Morgan Stanley Lead

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